Reebok downsizes in the US
08/08/2017
“We are rightsizing the retail fleet that we have for the Reebok brand and the focus is more on profitability than on growth.
"We want to have quality growth, and that is a planned decline in the US,” said chief financial officer Harm Ohlmeyer.
However, the brand reported 28% growth in China and 33% growth in Europe, which resulted in an overall 5% increase in sales for the second quarter.
Its Classic shoe sales grew over 10% globally in the second quarter.
The German group continues to close adidas stores in Russia, with 160 closures planned for 2017.
Adidas reported a near-20% rise in revenues for the second quarter and an 18% increase in profit, and now expects full year sales to be 17%-19% higher than last year.
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